Workers sort out packages at a delivery company a day after"Singles' Day" -- the world's biggest 24-hour shopping event -- in Hengyang in China's central Hunan province early on November 12 2019. Picture: AFP/ STR/ CHINA OUT
It kept alive hopes that MSCI’s 49-country world index and Europe’s Stoxx 600 could avoid their first weekly falls since the start of October. But it was touch and go and others had little chance. Shane Oliver, chief economist at AMP Capital in Sydney, likened regional markets’ bullish reaction to positive trade news to being in a relationship with an alcoholic, driven by entrenched hopes for recovery.
Higher US treasury yields also illustrated the risk-on tone in the Asian session, with the 10-year yield rising to 1.845% from a US close of 1.815% on Thursday. Germany’s 10-year bund yield was at -0.33%, off more than one-week lows hit on Thursday. But it is down 8 basis points on the week, set for the biggest weekly fall since mid-August. Dutch 10-year bond yields are down 7 basis points this week, and French yields are 5 basis points lower.
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